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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html
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WE ARE PETRO-CANADIANS + d0 W e3 f& K% s- c
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Due to the climate of political correctness now pervading Canada, Albertans will no longer be known as "Rednecks." # A5 D2 y1 a3 b# V. k) ]( N
! p3 ~& m4 {; M$ [( N! ?We must now be referred to as "Petro-Canadians." 9 m: Z+ P Z6 N( v( ^5 M q; h2 _; c
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WHY SELL NOW? % r3 `1 ] S' m) H/ h" S
) [* a3 t( K4 v1 u& x$ j8 Z. yIf I didn't own a house in Edmonton, I'd buy right now, with the current 10% dip in prices that have doubled in the past three years.
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If I was thinking of selling, I'd hold off until 2008 or 2010. * H4 z0 Q. L0 ~' `5 f7 X
1 U' [: L6 M4 e& {House prices, with a few peaks and valleys along the way, will continue to increase.
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We don't quite get it. . d5 K) C& v& x- ]- y3 s- B/ d
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We're squat in the middle of the greatest industrial boom in the freakin' world! # i, a/ @ R; R# v* y; }4 K
4 b7 J: C" B. ~7 G( F: hIn the oilsands, including mining projects and upgraders, the government lists 52 planned projects in its Inventory of Major Alberta Projects website. Average price: $3 billion per project.
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Even with huge slowdowns, at least half those projects will happen. The bitumen upgraders in Strathcona and Sturgeon counties are just starting. Nine proposed upgraders are listed on that website. 4 \) P8 ]0 M' e
: Z5 _9 {/ I1 ^5 X, E( d" KUpgraders and big oilsands mining projects each require workforces of 5,000 to 6,000 to build over a two-year period.
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! I% t3 n1 j, a- w- V. X0 y( R, p4 mTradesmen will pour into northern Alberta over the foreseeable future. The numbers of expected newcomers range from 3,000 to 10,000 per year, with a multiplier effect all over the region.
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Every expert in the world says oil prices will not collapse, due to world-wide demand. The price might drop by $10 per barrel, but oil- sand operations can still make a profit at those levels.
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Stricter environmental safeguards will increase the cost of production, but won't severely slow it down.
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* ~+ w- f/ [9 ?( B% RAnd all those skilled tradesfolks, coming with their families, have to live somewhere.
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House prices will go nowhere but up. |
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